First United (NASDAQ:FUNC) Announces Quarterly Earnings Results, Beats Estimates By $0.09 EPS

First United (NASDAQ:FUNC) issued its earnings results on Wednesday. The bank reported $0.95 EPS for the quarter, topping the consensus estimate of $0.86 by $0.09, Zacks reports. First United had a net margin of 14.70% and a return on equity of 12.20%.

First United Stock Performance

Shares of FUNC stock opened at $38.99 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $252.27 million, a price-to-earnings ratio of 15.58 and a beta of 0.81. First United has a one year low of $19.17 and a one year high of $37.00. The company’s 50-day moving average is $33.83 and its 200 day moving average is $31.45.

First United Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 17th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Friday, January 17th. First United’s dividend payout ratio (DPR) is 35.77%.

Analyst Upgrades and Downgrades

A number of research firms have commented on FUNC. Raymond James raised First United from a “market perform” rating to an “outperform” rating and set a $42.00 price target for the company in a research report on Friday. StockNews.com cut First United from a “buy” rating to a “hold” rating in a research report on Friday, January 31st.

About First United

First United Corporation operates as the bank holding company for First United Bank & Trust that provides various retail and commercial banking services to businesses and individuals. It offers various deposit products, which includes checking, savings, money market deposit, and regular and individual retirement accounts (IRAs), as well as certificates of deposit.